Kenyan firm recognised as Access Bank champions intra-Africa trade at inaugural conference

An inaugural Africa Trade Conference in Cape Town, South Africa, concluded with an awards ceremony that recognised Kenyan firm Bulkstream Limited, for its outstanding role in advancing intra-Africa trade.

The Kenyan company was among several others from different parts of the continent that were celebrated for similar reasons, indicating growing initiatives by private sector players in Africa to engage more with each other.

The landmark event, organised by Access Bank Plc, brought together industry leaders, policymakers, and trade experts to explore ways of accelerating trade among African nations in the spirit of the African Continental Free Trade Area (AfCFTA).

The conference particularly spotlighted issues such as limited access to capital, gaps in market information, trust deficits among trading partners, and limited trade infrastructure, as some of the key barriers to intra-Africa trade that should be tackled.

Roosevelt Ogbonna, Managing Director/CEO of Access Bank, delivered the opening address, during which he underscored the need for financial sector players in the continent to collaborate and grant businesses easy access to capital, and provide a conducive environment for them to strongly compete on the global stage.

“We must invest in initiatives that bring businesses together, build trust, and create the connections essential for trade. We must reject the notion that ‘Made in Africa’ is inferior to products from any other part of the world. We need to proudly buy, wear, and invest in Africa because that is what will propel the continent into the future,” he said.

With Africa’s population expected to grow to 2.5 billion by 2050, from 1.2 billion today, the African Continental Free Trade Area (AfCFTA) is primed to become a significant trade agreement in favour of Africa.  

By promoting economic integration, AfCFTA aims to reshape trade across Africa, enhancing industrialisation, job creation, and the continent’s global competitiveness.

Secretary-General of AfCFTA, H.E. Wamkele K. Mene, stressed the urgent need for nations to fully implement the agreement to unlock its immense potential.

“The AfCFTA is not just a trade agreement; it’s a tool for Africa’s industrialisation and economic sovereignty. It’s about breaking down historic trade barriers and building an Africa that is self-sufficient, competitive, and prosperous,” Mene said, and went on: “To realise this vision, SMEs and women-led businesses need access to information, capital, and platforms to thrive.”

The Executive Vice-President of Afreximbank, Kanayo Awani, underscored the critical role of trade financing in facilitating cross-border expansion for African businesses. She reaffirmed Afreximbank’s commitment to providing trade finance solutions and infrastructure investments that will unlock Africa’s trade potential.

“At Afreximbank, we understand that trade finance is the lifeblood of economic development,” Awani stated. “Without it, businesses cannot scale, industries cannot innovate, and Africa cannot realise its full trade potential. This is why we’ve developed solutions like the Pan-African Payment and Settlement System (PAPSS) to facilitate transactions across borders, reduce reliance on foreign currencies, and strengthen intra-African trade.”

An insightful presentation by Nathalie Louat, the Global Director of the IFC/World Bank Group, highlighted how trade finance supports cross-border transactions and promotes financial inclusion. She also spoke about the strong partnership between IFC and Access Bank in fostering Africa’s economic resilience.

Several high-level panel discussions explored strategies to overcome trade barriers, enhance market access, and promote infrastructure improvements, digital solutions, and policy harmonisation.

Experts from institutions such as Deutsche Bank, Traydstream, OWP Partners, Fiducia International, and others, examined how these solutions could drive growth and boost intra-African trade.

Dr Marc Auboin of the World Trade Organisation shared key insights on the role of digital transformation in reshaping Africa’s supply chains and unlocking new global market opportunities. Tanya Dos Santos-Ford from GIBS Business School also led a session on sustainable trade practices, urging the need for responsible and environmentally sound economic growth strategies.

The Executive Director of African Subsidiaries at Access Bank, Seyi Kumapayi, wrapped up the conference by reaffirming the Bank’s commitment to supporting trade finance, fostering regional integration, and championing policies that would create an enabling environment for businesses across Africa.

About Access Bank Kenya

Access Bank (Kenya) PLC is a subsidiary of Access Bank PLC, Africa’s largest universal bank by customer base, with a global network of over 700 branches and service outlets, operating across three continents, 24 countries (16 in Africa), and serving more than 63 million customers.

Guided by a vision to be the world’s most respected African bank, Access Bank is committed to offering world-class, customer-centric financial solutions that are both innovative and inclusive.

Following approval by the Central Bank of Kenya, Access Bank Kenya began operations in January 2020 after the acquisition of Transnational Bank.

The Bank’s growth has been fuelled by the integration of cutting-edge digital solutions tailored to the needs of the Kenyan market, as it continues with the journey to transform the banking experience for individuals, businesses, and communities alike.

For more information on how Access Bank Kenya goes beyond providing banking services to enrich lives, go to https://kenya.accessbankplc.com/